Australia Trade Surplus Rises More Than Expected in May to $12.237 Billion

Australia posted a larger than expected trade surplus of A$11.791 billion in May, up from a downwardly revised AUD 10.45 billion in April, beating market forecasts of A$10.5 billion the Australian Bureau of Statistics reported. Exports rose more than imports. Shipments grew by 4.4% from April to A$57.77 billion, boosted by increases in non-monetary gold, with total exports to Australia’s largest trade partner China. rising by 9%. Imports rose 2.5% to a four-month high of A$45.98 billion powered by robust … Continue reading “Australia Trade Surplus Rises More Than Expected in May to $12.237 Billion”

China Removes Remaining Barriers from Unofficial Trade War on Australian Coal

China, desperate to kick start their economy and improve civil harmony has quietly removed trade restrictions imposed in late 2020 on Australian coal imports. Earlier this year Chinese authorities gave four major importers permission to resume purchases of Australian coal, which began shipping in January. Bloomberg reports that China’s ports and customs offices have been told to allow all domestic companies to import Australian coal, according to people familiar with the decision, who asked not to be identified because the … Continue reading “China Removes Remaining Barriers from Unofficial Trade War on Australian Coal”

Australia Trade Surplus in December $12.237 Billion Impacted by Australians Travel Spend

Australia posted a trade surplus of A$12.24 billion in December, impacted by exports of mineral fuels and mining goods impacted by the war in Ukraine. The Australian Bureau of Statistics reported imports had risen by $445 million from November, driven by an increase in travel services as more Australians headed overseas for the holidays. Exports fell by $793 million. The report was amid softening global demand as China battled with a resurgence of coronavirus infections. When China slows down, Australian … Continue reading “Australia Trade Surplus in December $12.237 Billion Impacted by Australians Travel Spend”

Australia Trade Surplus Widened in November to $13.2 billion With Iron Ore Exports Higher 7.9%

Australia posted a trade surplus of A$13.2 billion in November exceeding expectations for a surplus of A$10.5 billion following the A$12.217 billion surplus in October and $12.5 billion in September. The Australian Bureau of Statistics reported exports dipping 0.4 per cent and imports falling 1.5 per cent over the month. The report was amid softening global demand as China battled with a resurgence of coronavirus infections. Australia’s’ leading exports were Metal ores and minerals exports (iron ore) $14,502 billion up … Continue reading “Australia Trade Surplus Widened in November to $13.2 billion With Iron Ore Exports Higher 7.9%”

China to Boost Domestic Coal Production to Ensure Energy Security

China, the world’s largest coal consumer and producer, announced that it would boost domestic production to ensure its energy security. Newcastle thermal coal futures fell more than $US70 a tonne to $US335 a tonne on Friday night for the October ICE contract. China has been hard by its ill-thought-out trade war with Australia which put them behind the queue as record prices for top quality Australian hard coking coal were set regularly in June the price hit $US430 (AUD$595) a … Continue reading “China to Boost Domestic Coal Production to Ensure Energy Security”

US Share of Electricity Generation from Coal to Decline Further Despite Soaring Natural Gas Prices EIA Forecasts

The EIA in their June STEO expect the continued retirement of coal-fired generating capacity in the United States to see the share of electricity generation from coal to decline from 23% in 2021 to 21% in 2022 and to 20% in 2023. Despite surging natural gas prices constraints include limited rail capacity for fuel delivery, low coal stocks at power plants, reduced coal mining capacity, and rising generation from renewable sources. Coal prices have risen unabated with supply chain disruptions globally.   The EIA … Continue reading “US Share of Electricity Generation from Coal to Decline Further Despite Soaring Natural Gas Prices EIA Forecasts”

Australia Current Account Surplus Twelfth Straight in Q1 2022 but Lowest Since Q4 2019

Australia posted a current account surplus that missed expectations of $13.2 billion significantly for the March quarter after it decreased by $5.7 billion to $7.5 billion (seasonally adjusted) in the March quarter. Import volumes far outstripped exports which took a slice out of economic growth. Higher dividend payments to non-residents as profits continued to rise on the back of higher commodity prices affected the deficit, “The current surplus narrowed for the third consecutive quarter and was the lowest since December … Continue reading “Australia Current Account Surplus Twelfth Straight in Q1 2022 but Lowest Since Q4 2019”

Australian Coking Coal Record High with Strong Demand in Korea and Japan

Record prices for top quality Australian hard coking coal were set three times in the past week. The price hit $US430 ($595) a tonne Wednesday, almost four times the price in May. Coal prices have risen unabated with supply chain disruptions. Strong demand in Korea and Japan has fueled the rally over the past seven weeks. The prices were already pressured with Indonesia’s decision to ban coal exports. Further pressure on coal prices came from BHP, the world’s biggest coking … Continue reading “Australian Coking Coal Record High with Strong Demand in Korea and Japan”

US Coal Generation Increased For The First Time Since 2014 Due To Soaring Natural Gas Prices

The EIA in their STEO expect 22% more U.S.Coal Fired Generation in 2021 over 2020. The increase is from soaring higher natural gas prices. While Coal prices have risen unabatted with supply chain disruptions globally there have risen less than gas in the US.

Record High Chinese Coal Futures Prices After Biggest Coal Producing Region Floods

Coal prices have risen unabated with supply chain disruptions, China has been particularly badly hit and that just got more critical. Floods closed 60 of the 682 coal mines in Shanxi province, 30% of China’s production.   Torrential rains has led to flooding and expanded mine shutdowns in China’s biggest coal producing region, Shanxi province. In a market already squeezing higher this latest news sent Thermal coal futures to a new intraday record after trading opened Monday. Beijing is ina … Continue reading “Record High Chinese Coal Futures Prices After Biggest Coal Producing Region Floods”